All Forum Posts by: Mia Gregory

Quote from @Chris B.:

The process is a bit more complicated than that. You don't actually get to acquire the property until after the third year of unpaid taxes. I'd recommend reading up on the process more before you start (and local tax sales are coming up soon). There's a guy who has written a book about it up for sale on Amazon (search "Missouri tax sale") which might have answers to your questions (I have no affiliation with the author). Otherwise your best bet might be to network in local REIAs with other investors who purchase at tax sales. The STL REIA recently had a zoom call on the topic, which I think you can find on YouTube.

I should have clarified. These are all properties that have not paid their taxes for a minimum of 3 years - some have not been paid for 6 years.  The tax liens are listed to go up for sale soon, and then it would be another year before acquiring the property (if the current landowner did not pay). I actually had just found the Amazon book last evening, and was going to purchase it.  Great idea about networking at REIAs.  

Are you able to answer the question about if the property has a mortgage on it as well.  I've found some information about that, but very little.  

I live in Missouri, and am looking to dabble in real estate. In Missouri, they sell tax lien certificates. So, when you buy the tax lien, you do not own the property. There is a 1 year redemption period where the owner can pay their taxes. If they don't repay their taxes, then you can go through the proper channels to acquire the property. Can someone explain that process? I believe it is suggested to run a title search prior to buying the tax lien certificate. What if the house/property has a mortgage lien on it as well? How does all that work? What percentage of the time do individuals pay their taxes in the 1 year period? If I know that the individual who owned the house has passed away, is that a better tax lien to buy (or not)? Please help a first timer who is just starting to learn about tax lien certificates and has a bit of interest. Thanks!

I live in Missouri, and am looking to dabble in real estate.  In Missouri, they sell tax lien certificates.  So, when you buy the tax lien, you do not own the property.  There is a 1 year redemption period where the owner can pay their taxes.  If they don't repay their taxes, then you can go through the proper channels to acquire the property.  Can someone explain that process?  I believe it is suggested to run a title search prior to buying the tax lien certificate. What if the house/property has a mortgage lien on it as well?  How does all that work?  What percentage of the time do individuals pay their taxes in the 1 year period?  If I know that the individual who owned the house has passed away, is that a better tax lien to buy (or not)?  Please help a first timer who is just starting to learn about tax lien certificates and has a bit of interest.  Thanks!